Can I apply in an IPO through multiple applications on same name?
- Asked By
- Updated On:19-Feb-2021
- Replies:1
Short Answer
No, a person cannot apply for a single IPO more than ones. There are strict rules and regulations followed in this matter. However, his/her family members can apply for the IPO under their name provided they have a demat account and PAN number.
Detailed Answer
The simple and straightforward answer to this question is NO. You cannot apply to an IPO with different applications forms having the same name. There are specific rules and regulation regarding this where you cannot have various applications with the same name. Even if you apply, you will be wasting your time, resource and energy as all of them will be rejected.
Moreover, if you want to apply multiple times, then you cannot do it. But then your family members can apply for the IPO. All they need to have is a Demat account and PAN number to apply for the IPO. Do keep in mind that every member of your family gets only one chance to apply for a single IPO. If you apply it once, then applying again isn't a possibility.
Bottom line
As lucrative as the IPO market might seem, it's quite a hot zone for investors to apply in an IPO and see their investment reap profits. However, to get into a reputable IPO of a company isn't a piece of cake. No wonder there are so many restrictions, rules and regulations regarding this. But you get only once chance to apply for an IPO. You and your family members get one chance only for that particular IPO.
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Discussion (0)
Yes, you can apply for an IPO application under a minor or HUF's name, provided they have different PAN card numbers. Minors can open a Demat account with their parent’s PAN Card and bank account.
IPO's (Initial Public Offering) is very popular right now. Therefore getting an allotment is not easy. There are two different ways in which you can find out your allotment status. These are through the BSE India website and the company Registrar's website. Know the details and another bonus way of finding out allotment status here.
There are about 5 IPO applications that can submit through online net banking from one bank account. However, the number can change immensely from one bank to another.
Yes!, one can apply 1 Lot from different Demat accounts but they have to make sure that the other Demat account should not be mapped under their name or PAN Card. If one applies through 2 or more Demat accounts that are mapped under their name then all of the applications will get rejected.
ASBA or Application Supported by Blocked Amount is an alternative payment method to apply or bid for an IPO. However, it is currently available to only the Retail Individual Investors and you also need to fulfill certain requirements for the same.
Yes, it is mandatory to have a PAN number to apply for an IPO since July 2006 as per Securities and exchange board of India (SEBI).
It is the document issued by the owner of the IPO for share allocated as per the regulatory guidelines in an IPO. This contains all the crucial details about the Initial Public Offering.
IPO or Initial Public Offering is the process through which a private company goes public by offering its shares to the public for the first time.
No, applying for an IPO does not guarantee you nay shares that would be allocated to you. Simply, applying is no surety to getting the shares as well.
There is no possibility of a user having a sweep in/out account linked to their IPO application. It would simply get rejected.